Deccan Herald / Business

Sunday, Apr 15


House panel to quiz finmin officials on Tuesday

A parliamentary standing committee on finance will meet Finance ministry officials on Tuesday on stressed assets in the banking sector.

Income Tax Dept seizes Rs 440 cr dividend income of Cairn Energy

The Income Tax Department has seized a further Rs 440 crore of dividend income due to Cairn Energy, to recover a part of the Rs 10,247 crore tax demand it had raised on the British firm using a retrospective tax legislation.

Amazon, Flipkart to drive growth in cargo segment

The e-retail industry, led by the likes of Amazon and Flipkart, has brought about a major disruption in the domestic cargo sector, with an expected contribution of about Rs 5,000 crore this fiscal, of which the air cargo segment would…

RBI found nothing wrong in ICICI loans to Videocon


The Reserve Bank of India had two years back conducted a detailed scrutiny to probe allegations of impropriety in ICICI Bank extending loans to Videocon Group, but found no proof of any "quid pro quo" or reciprocal benefits, according to…


Airbus offers to set up global production hub in India for Panther helicopter

Eyeing Indias lucrative military modernisation programme, aerospace giant Airbus has offered to set up a global manufacturing hub for its Panther helicopter in the country if the company gets a multi-billion-dollar contract to supply a…

Saturday, Apr 14


'A water purifier has become a necessity today'

Established in 1982, Eureka Forbes has emerged as a leading homegrown consumer durables brand, best known for its home cleaning and water purifier solutions, which have addressed changing consumer needs and environmental conditions.

Govt to launch this fiscal's first tranche of gold bond on Apr 16

The government has announced this fiscals first tranche of the sovereign gold bond (SGB) and its subscription will open on April 16.

Infy to club Nia with Finacle to detect bank frauds

Bengaluru-based IT major Infosys is in the process of integrating its artificial intelligence (AI) platform Nia with its banking solution Finacle, which is expected to help banks detect online frauds.

Bagrry's plans manufacturing facility in South India


Homegrown breakfast cereal brand Bagrrys is looking to expand its manufacturing capacity by setting up a plant in the South with an investment of Rs 100 crore.


CBI books Ex-UCO bank CMD in Rs 621-crore cheating case

The CBI has booked former UCO Bank CMD Arun Kaul and others for allegedly cheating the bank to the tune of Rs 621 crore, officials said on Saturday.

Friday, Apr 13


Titan eyes Rs 50k cr revenues by FY23

Tata Group firm Titan on Friday said it is eyeing a gross revenue of Rs 50,000 crore by financial year 2022-23, and expects its jewellery business to continue driving sales for the company.

Infosys Q4 net profit up 2.4%

Indias second largest IT services company Infosys on Friday reported a net profit of Rs 3,690 crore for the fourth quarter ended March 31, 2018, a rise of 2.4% year-on-year compared with Rs 3,603 crore for the corresponding quarter last…

Infosys to sell off Panaya, Skava

Bengaluru-based IT bellwether Infosys on Friday decided to sell off its two subsidiaries - Skava (along with Kallidus) and Panaya - which were acquired by the company during its former CEO and MD Vishal Sikkas tenure.

Exports drop 0.66% in March ; trade deficit widens

Indias exports dipped after a gap of four months in March but finished 2017-18 with a healthy rise of 9.78% to $302.84 billion.

Single digit pay hike at Infosys


Indias second largest IT services company Infosys on Friday announced that it would roll out single-digit salary hike for a majority of its employees, effective from April 2018 onwards.

Sebi hikes FPI investment limit for govt debt, corp bonds in 2 tranches

To boost inflows of foreign funds into Indian capital markets, regulator Securities and Exchange Board of India (Sebi) has decided to raise the investment limit for foreign portfolio investors (FPIs) in central government securities and…

IHH Healthcare joins Fortis race, offers up to Rs 160 per share

Malaysias IHH Healthcare has joined the race to acquire Indias troubled Fortis Healthcare, offering to acquire shares at up to Rs 160 apiece, higher than Manipal Health Enterprises offer of Rs 155 per unit by valuing the company at Rs 6…


Nabard records 7% drop in total business in Karnataka

The National Bank for Agriculture and Rural Development (Nabard) on Friday reported a total business of Rs 13,859 crore in Karnataka during 2017-18, a decline of 7% over the previous year. In 2016-17, Nabards total business stood at Rs 14…


Infosys clocks net of Rs 3,690 crore for Q4

Beating the market expectations, Bengaluru-based IT giant Infosys on Friday clocked a net profit of Rs 3,690 crore for the fourth quarter ended March 31, 2018, a rise of 2.4% year-on-year compared with Rs 3,603 crore for the corresponding…


Infosys shares gain over 1% ahead of earnings

Shares of IT major Infosys rose by over 1 per cent today ahead of its fourth quarter results to be announced later in the day.


Sensex jumps 91 pts on macro data, earnings optimism

Benchmark Sensex built on gains to close at a fresh six-week high of 34,192.65 today on better-than-expected macro data and optimism ahead of the earnings season. This was the seventh straight session of gains for the index, its longest…


Bonanza for Infosys shareholders

Signalling deviation from the historical policy of maintaining huge cash reserves, Infosys, India's second largest IT services company, on Friday decided to distribute up to Rs 13,000 crore ($2 billion) to its shareholders, other than…

Thursday, Apr 12


Walmart close to buying majority of India's Flipkart, deal likely by end-June

Walmart Inc is likely to reach a deal to buy a majority stake in Indian e-commerce player Flipkart by the end of June in what could be the U.S. retail giants biggest acquisition of an online business, two people with direct knowledge of…


Sensex spurts 160 pts to reclaim 34,000-mark

Benchmark Sensex advanced for the sixth straight session to end above the key 34,000-level today, led by gains in IT, banking and capital goods shares.

Wednesday, Apr 11


Potential bidders 'arm twisting' govt on Air India sale: Unions

Alleging that the probable bidders are using "arm-twisting tactics" to force the government sell the national carrier for cheap, a forum of 10 Air India unions has said that it will take up the issue with the PMO and the civil aviation…


Bluetooth speakers by Riversong Technology Limited


Riversong Technology Limited, a technology focused company based out of Shenzhen, China, and has presence across India, Hong Kong, Dubai and Pakistan, has launched its own series of high-definition sound category products. Catering to the…


Digital transformation to add 154 billion USD to India's GDP by 2021: Microsoft

Digital transformation in the country is expected to contribute about USD 154 billion to Indias GDP by 2021, tech giant Microsoft said on Wednesday.


Saudi Aramco to buy 50% stake in $44-billion oil refinery in Maharashtra

Saudi Aramco, the worlds largest oil producer, will buy 50 per cent stake in the mega USD 44-billion oil refinery in Maharashtra.


Sensex ends higher for 5th day in volatile trade

Rising for the fifth straight session, market benchmark Sensex gained 60 points to end at 33,940 in see-saw trade today, led by gains in metal, IT and consumer durables counters amid mixed Asian cues.


India to grow 7.3% this fiscal, 7.6% in next: ADB

India's economic growth is expected to rebound to 7.3 per cent this fiscal and further to 7.6 per cent in 2019-20 with increased productivity post GST and investment revival due to banking reform, the Asian Development Bank (ADB) said…